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Income Tax Bill 2025 Aims to Simplify NRI Taxation, Provide Clarity
17 February 2025 at 07:42The Income Tax Bill 2025 seeks to create a more transparent and efficient tax framework for Non-Resident Indians (NRIs) by addressing long-standing concerns and reducing litigation risks, according to tax experts.
GST Council Mulls Tax Rate Cuts, Considers Eliminating 12% Slab to Boost Consumption
17 February 2025 at 07:37The Goods and Services Tax (GST) Council is reportedly considering a reduction in tax rates on select items to stimulate consumption while maintaining revenue stability, according to a report citing sources familiar with the discussions.
FM Responds to Jaya Bachchan: GST on Movie Tickets Slashed from 28% to 18%
17 February 2025 at 07:37Responding to concerns raised by MP and former actor Jaya Bachchan, Sitharaman emphasized that GST has significantly reduced the tax burden on the film industry compared to the pre-GST era.
Income Tax Bill 2025: Capital Gains Tax Structure Unchanged, Language Simplified for Clarity
17 February 2025 at 07:37The new Income Tax Bill 2025, tabled in Parliament recently, is being seen by taxation experts as a landmark reform aimed at modernizing and simplifying India's tax framework.
GSTN Introduces Form ENR-03 for Enrolment of Unregistered Dealers on E-Way Bill Portal
17 February 2025 at 07:36In a move to streamline the e-Way Bill (EWB) system, the Goods and Services Tax Network (GSTN) has introduced Form ENR-03, enabling unregistered dealers and persons to enrol and generate e-Way Bills.
CBIC Issues Clarifications on GST Rates and Classifications Following 55th GST Council Meeting
15 February 2025 at 07:58CBIC has issued Circular No. 247/04/2025-GST dated February 14, 2025, clarifying GST rates and classifications based on the recommendations of the 55th GST Council meeting held on December 21, 2024
New Income Tax Bill Retains Old Regime, Aims for Simpler Tax Laws
15 February 2025 at 07:32The much-anticipated new Income Tax Bill has put an end to speculation regarding the abolition of the old tax regime, confirming that it will continue to coexist with the new regime.
New Income Tax Bill 2025 Retains Virtual Digital Asset Scope
15 February 2025 at 07:32The new Income Tax Bill, 2025, introduced in Parliament by Finance Minister Nirmala Sitharaman on Thursday, has not altered the scope of "virtual digital assets" (VDAs) but has incorporated the definition proposed in the Finance Bill, 2025.
Income Tax Dept Launches Utility to Compare 1961 Act with Income Tax Bill 2025
15 February 2025 at 07:32The Income Tax Department of India has introduced a new utility tool designed to assist taxpayers in navigating the transition from the existing Income-tax Act, 1961, to the proposed Income-tax Bill, 2025.
Income Tax Bill 2025: Section 80C Deductions Shifted to Clause 123
15 February 2025 at 07:32Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in the Lok Sabha on February 13, 2024, marking a major step towards overhauling India's tax laws.
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